Mexico's development bank, Nacional Financiera, is readying itself to issue a $500 million green bond.
The bank was unavailable for comment at the time of going to press, but Environmental Finance understands from market insiders that the transaction, which will be the first green bond from a Mexican issuer, will be denominated in US dollars.
Daiwa, Bank of America and Credit Agricole are managing the deal.
The deal is expected to finance renewable energy and will receive a BBB+ rating from Fitch and an A3 rating from Moody's, insiders said.